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10 000 Dollars Federal Reserve Note, 'Redeemable in Gold'
| Issuer | Federal Reserve System |
|---|---|
| Year | 1928 |
| Type | Standard circulation banknote |
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|---|---|
| Obverse lettering | 10,000 FEDERAL RESERVE NOTE THE UNITED STATES OF AMERICA WILL PAY TO THE BEARER ON DEMAND TEN THOUSAND DOLLARS REDEEMABLE IN GOLD ON DEMAND AT THE UNITED STATES TREASURY, OR IN GOLD OR LAWFUL MONEY AT ANY FEDERAL RESERVE BANK. |
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| Reverse lettering | 10,000 THE UNITED STATES OF AMERICA TEN THOUSAND DOLLARS |
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| Comments |
The highest denomination ever released into general circulation by the Federal Reserve, though "general" is doing heavy lifting here — these notes moved almost exclusively between Federal Reserve banks as interbank settlement instruments, rarely if ever passing through private hands. The 1928 series was the first small-format issue of the $10,000, following the reduction from the large-format notes of the preceding decades.
The "Redeemable in Gold" obligation was voided by Executive Order 6102 in 1933 and formally stripped from subsequent printings. By 1969, the Federal Reserve and Treasury jointly discontinued the $500, $1,000, $5,000, and $10,000 denominations, citing declining use and law enforcement concerns. Fewer than 350 examples are believed to survive across all series.